International Education Financing Spurs 15x Growth in Household Income

Study of academic research and data on 20,000 students from 182 countries shows the world-changing power of international education

BENGALURU, December 17, 2024 – MPOWER Financing, the leading provider of no-cosigner loans and scholarships to high-potential students from India and around the world, has released its fourth annual Social Impact Report. The report highlights how international education transforms lives and communities, with a special focus on the positive contributions of Indian students and the role of education financing in empowering them to succeed.

Drawing on data from nearly 20,000 students across 182 countries, including significant representation from India, the report showcases how MPOWER’s financing model generates far-reaching benefits for students, their home countries (ie. India), and the global community.

Financing international education has long been a challenge for Indian students, with traditional loans often requiring cosigners, collateral, or high interest rates. MPOWER addresses these challenges with its unique lending model based on students’ future earning potential, rather than their parents’ financial standing. This approach has been pivotal, with 92% of MPOWER students reporting that the firm’s loans were essential to their ability to study abroad.

Some key findings from the 2024 report include:

• India at the forefront: Thousands of Indian students have leveraged MPOWER’s support to access premier universities in the U.S. and Canada
• 15x income growth: MPOWER students who graduate and find employment in the U.S. see an average 15x increase in their pre-graduation household income, underscoring the transformative value of their education.
• Strengthening families: 75% of surveyed MPOWER students send an average of $645 (approximately ₹50,000) per month back home to support their families after graduation.
• Empowering women: MPOWER scholarships and loans have helped bridge the gender gap, with 68% of female MPOWER students pursuing STEM fields—nearly double the global average.

“Since our founding a decade ago, we’ve witnessed the phenomenal impact that international education can have on students, their families, and their home countries,” said Manu Smadja, CEO of MPOWER Financing.

MPOWER goes beyond financial support with its free Path2Success program for approved students, which provides exclusive career and immigration guidance to help students thrive during their studies and after graduation.

In 2024, MPOWER saw a stunning fivefold year-over-year rise in applications for students to study artificial intelligence and machine learning. 70% of MPOWER students pursue engineering, computer science or technology fields: all in-demand professions in the global economy.

The report ends with a case study on the Indian diaspora, including how those who have temporarily left India continue to bring back global expertise to drive innovation, create jobs, and transform industries. Examples like the late Ratan Tata, who graduated from Cornell University and Harvard Business School and later ran one of India’s largest and most respected conglomerates, and Azim Premji, who studied at Stanford University and later transformed Wipro into a global leader in the software industry, highlight how international exposure fuels local entrepreneurship and economic development. Additionally, diaspora leaders like Microsoft CEO Satya Nadella continue to invest in and advocate for India, demonstrating how talent circulation fosters mutual growth and global influence.